Tuesday , November 5 2024
Home / The Angry Bear / Wealth distribution in the US continues to be a first order economic issue

Wealth distribution in the US continues to be a first order economic issue

Summary:
Wealth distribution in the US continues to be a first order economic issue Tomorrow (Thursday) is one of those days when just about Every Economic Statistic in the World will be released. In the meantime, no new data today. So, while we wait, let me send you over to this article by Wolf Richter analyzing the distribution of wealth and assets in the US updated by the Fed through the end of last year. Unsurprisingly, the rich have gotten richer, and their preferred asset classes are the most protected by the tax code. Just one of many first-order economic problems in the US. Wealth, once entrenched – most particularly when it is unearned and inherited – will never be voluntarily disgorged. The beneficiaries would rather give up democracy,

Topics:
NewDealdemocrat considers the following as important: ,

This could be interesting, too:

Bill Haskell writes Opinion Piece “China’s One-Child Economic Disaster”

Angry Bear writes What Happens When Corporate Places Greater Emphasis on Stock Buybacks Rather than Quality?

Angry Bear writes Why electric cars of the future might be smaller, safer, and fewer

Angry Bear writes Topping up as part of an integrated neighborhood approach

Wealth distribution in the US continues to be a first order economic issue

Tomorrow (Thursday) is one of those days when just about Every Economic Statistic in the World will be released. In the meantime, no new data today.

So, while we wait, let me send you over to this article by Wolf Richter analyzing the distribution of wealth and assets in the US updated by the Fed through the end of last year.

Unsurprisingly, the rich have gotten richer, and their preferred asset classes are the most protected by the tax code.

Just one of many first-order economic problems in the US. Wealth, once entrenched – most particularly when it is unearned and inherited – will never be voluntarily disgorged. The beneficiaries would rather give up democracy, give up the Rule of Law, rather than see their privileged status compromised.

Leave a Reply

Your email address will not be published. Required fields are marked *